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<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:ns1="http://www.sec.gov/edgar/common" xmlns:sccom="http://www.sec.gov/edgar/sccommon" xmlns:ncom="http://www.sec.gov/edgar/ncencommon" xmlns:iso="http://www.sec.gov/edgar/iso_statecodes" xmlns:exch="http://www.sec.gov/edgar/iso_exchangelist" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
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    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000783402</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <investmentCompanyType>N-6</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportClass>
        <rptIncludeAllClassesFlag>true</rptIncludeAllClassesFlag>
      </reportClass>
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  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2021-12-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>AMERITAS VARIABLE SEPARATE ACCOUNT V</registrantFullName>
      <investmentCompFileNo>811-04473</investmentCompFileNo>
      <registrantCik>0000783402</registrantCik>
      <registrantLei>54930006DM93NTSDG559</registrantLei>
      <registrantstreet1>5900 O STREET</registrantstreet1>
      <registrantcity>LINCOLN</registrantcity>
      <registrantzipCode>68510-2234</registrantzipCode>
      <registrantstate>US-NE</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>402-467-1122</registrantphoneNumber>
      <websites>
        <website webpage="ameritas.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>Ameritas Life Insurance Corp.</officeName>
          <officeAddress1>5900 O Street</officeAddress1>
          <officeCity>Lincoln</officeCity>
          <officeStateCountry officeState="US-NE" officeCountry="US"/>
          <officeRecordsZipCode>68510-2234</officeRecordsZipCode>
          <officePhone>402-467-1122</officePhone>
          <booksRecordsDesc>The books, records and other documents required to be maintained by Section 31(a) of the 1940 Act and Rules 31a-1 to 31a-3 thereunder.</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="Ameritas Life Insurance Corp."/>
      <registrantClassificationType>N-6</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Scott Raymond Farmen</ccoName>
          <crdNumber>005046977</crdNumber>
          <ccoStreet1>5900 O Street</ccoStreet1>
          <ccoCity>Lincoln</ccoCity>
          <ccoStateCountry ccoState="US-NE" ccoCountry="US"/>
          <ccoZipCode>68510-2234</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>Ameritas Investment Company, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-31296</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000014869</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>549300913B54XKSRM258</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterState="US-NE" principalUnderWriterCountry="US"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Deloitte &amp; Touche LLP</publicAccountantName>
          <pcaobNumber>34</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantState="US-NE" publicAccountantCountry="US"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
    </registrantInfo>
    <unitInvestmentTrust>
      <depositors>
        <depositor>
          <depositorName>Ameritas Life Insurance Corp.</depositorName>
          <depositorCrdNo>N/A</depositorCrdNo>
          <depositorLei>54930006DM93NTSDG559</depositorLei>
          <depositorStateCountry depositorState="US-NE" depositorCountry="US"/>
          <depositorUltimateParentname>Ameritas Mutual Holding Company</depositorUltimateParentname>
        </depositor>
      </depositors>
      <uitAdmins>
        <uitAdmin>
          <uitAdminName>Ameritas Life Insurance Corp.</uitAdminName>
          <uitAdminLei>54930006DM93NTSDG559</uitAdminLei>
          <uitAdminStateCountry uitAdminState="US-NE" uitAdminCountry="US"/>
          <isUitAdminAffiliated>Y</isUitAdminAffiliated>
          <isUitAdminSubAdmin>N</isUitAdminSubAdmin>
        </uitAdmin>
      </uitAdmins>
      <isUitAdminHiredTerminated>N</isUitAdminHiredTerminated>
      <registrantSeparateInsuranceAccount isRegistrantSeparateInsuranceAccount="Y" separateAccountSeriesId="S000011620"/>
      <numOfContracts>17669</numOfContracts>
      <contractSecurities>
        <contractSecurity separateAccountSecurityName="Overture Life SPVUL" separateAccountContractId="C000050464" separateAccountTotalAsset="14522514.12" numContractsSold="0" grossPremiumReceived="35921.07" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="81987.55" contractValueRedeemedSection1035="62338.46" numContractsAffectedRedeemed="1"/>
        <contractSecurity separateAccountSecurityName="UniVar" separateAccountContractId="C000050463" separateAccountTotalAsset="58518.64" numContractsSold="0" grossPremiumReceived="600.00" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="0.00" contractValueRedeemedSection1035="0.00" numContractsAffectedRedeemed="0"/>
        <contractSecurity separateAccountSecurityName="Excel Performance VUL" separateAccountContractId="C000068218" separateAccountTotalAsset="99260756.27" numContractsSold="0" grossPremiumReceived="8991041.76" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="3073331.52" contractValueRedeemedSection1035="503413.18" numContractsAffectedRedeemed="12"/>
        <contractSecurity separateAccountSecurityName="Ameritas Performance II VUL" separateAccountContractId="C000216331" separateAccountTotalAsset="2101191.57" numContractsSold="102" grossPremiumReceived="1469715.02" grossPremiumReceivedSection1035="430451.58" numContractsAffected="5" contractValueRedeemed="3848.79" contractValueRedeemedSection1035="0.00" numContractsAffectedRedeemed="0"/>
        <contractSecurity separateAccountSecurityName="Overture Applause!" separateAccountContractId="C000050465" separateAccountTotalAsset="149407036.25" numContractsSold="0" grossPremiumReceived="4103993.64" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="3145955.08" contractValueRedeemedSection1035="914113.53" numContractsAffectedRedeemed="24"/>
        <contractSecurity separateAccountSecurityName="Overture Applause!  II" separateAccountContractId="C000050466" separateAccountTotalAsset="113632208.91" numContractsSold="0" grossPremiumReceived="3684518.18" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="4306346.42" contractValueRedeemedSection1035="1828169.19" numContractsAffectedRedeemed="30"/>
        <contractSecurity separateAccountSecurityName="Overture Encore!" separateAccountContractId="C000050467" separateAccountTotalAsset="43577851.77" numContractsSold="0" grossPremiumReceived="1525455.35" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="1460763.50" contractValueRedeemedSection1035="858160.61" numContractsAffectedRedeemed="4"/>
        <contractSecurity separateAccountSecurityName="Corporate Benefit VUL" separateAccountContractId="C000050470" separateAccountTotalAsset="2813787.51" numContractsSold="0" grossPremiumReceived="41985.63" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="0.00" contractValueRedeemedSection1035="0.00" numContractsAffectedRedeemed="0"/>
        <contractSecurity separateAccountSecurityName="Overture Ovation!" separateAccountContractId="C000050473" separateAccountTotalAsset="222175931.72" numContractsSold="0" grossPremiumReceived="11204040.38" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="6644623.17" contractValueRedeemedSection1035="2436369.68" numContractsAffectedRedeemed="47"/>
        <contractSecurity separateAccountSecurityName="Overture Viva!" separateAccountContractId="C000050469" separateAccountTotalAsset="2864046.22" numContractsSold="0" grossPremiumReceived="134969.87" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="458587.38" contractValueRedeemedSection1035="0.00" numContractsAffectedRedeemed="0"/>
        <contractSecurity separateAccountSecurityName="Overture Bravo!" separateAccountContractId="C000050468" separateAccountTotalAsset="13881971.20" numContractsSold="0" grossPremiumReceived="349294.58" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="38907.73" contractValueRedeemedSection1035="0.00" numContractsAffectedRedeemed="0"/>
        <contractSecurity separateAccountSecurityName="Protector hVUL" separateAccountContractId="C000050476" separateAccountTotalAsset="8750359.45" numContractsSold="0" grossPremiumReceived="730465.10" grossPremiumReceivedSection1035="0.00" numContractsAffected="0" contractValueRedeemed="190035.94" contractValueRedeemedSection1035="83375.09" numContractsAffectedRedeemed="2"/>
      </contractSecurities>
      <isRule6C7Reliance>N</isRule6C7Reliance>
      <isRule11A2Reliance>N</isRule11A2Reliance>
      <isRule12D1Dash4Reliance>N</isRule12D1Dash4Reliance>
      <isRule12D1GReliance>N</isRule12D1GReliance>
    </unitInvestmentTrust>
    <signature registrantSignedName="Ameritas Variable Separate Account V" signedDate="2022-03-11" signature="/s/ Laura A. Fender" title="Senior Vice President, Controller Ameritas Life Insurance Corp. (Depositor)"/>
  </formData>
</edgarSubmission>
